Verve A Credit Union Mortgage Rates, Fees & Info

Oshkosh, WI

LEI: 549300P6ZERWX5BPWX45

Tax ID: 39-0711674

5 stars - Updated: 4/5/25 - out of 5 stars, based on 26 reviews

Latest/2024 | 2023 Data | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Relative Rates
  • Relative Fees
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Verve A Credit Union is a smaller credit union specializing in Home Purchase and Refi loans. Verve A Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Oshkosh, Fond Du Lac, Appleton, Milwaukee, and Chicago among others. We have data for 21 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Verve A Credit Union has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Verve A Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.81% 4/5/25
    30 Year Conventional Purchase 6.69% 4/5/25
    30 Year Conventional Refi 6.43% 4/5/25
    30 Year Cash-out Refi 6.54% 4/5/25
    30 Year FHA Purchase 8.17% 4/5/25
    15 Year Conventional Purchase 6.27% 4/5/25
    15 Year Conventional Refi 7.12% 4/5/25
    15 Year Cash-out Refi 7.12% 4/5/25
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Verve A Credit Union Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Verve A Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    679

    Origination Dollar Volume (All Markets)

    $139,585,000

    Awards

    VERVE A CREDIT UNION 30 Year Conventional Loans silver VERVE A CREDIT UNION 30 Year Conventional Loans gold
    Show all (2) awards

    Relative Rate

    Verve A Credit Union's average 30 year fixed mortgage rate was 6.6%.

    The 2024 average 30 year fixed rate mortgage across all markets and lenders was 6.55%.

    This yields a difference of 0.05%.

    Relative Fees (Closing Costs)

    Verve A Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $2,874.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $8,356.

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    OSHKOSH-NEENAH, WI (FHA|USDA|VA) 288 $58,210,000 $202,118 $1,854 7.48%
    FOND DU LAC, WI (FHA|USDA|VA) 129 $13,635,000 $105,698 $1,505 7.47%
    APPLETON, WI (FHA|USDA|VA) 79 $13,345,000 $168,924 $1,475 7.66%
    MILWAUKEE-WAUKESHA, WI (FHA|USDA|VA) 32 $11,740,000 $366,875 $1,069 7.39%
    Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 17 $10,105,000 $594,412 $6,916 7.17%
    Outside of Metro Areas 49 $9,205,000 $187,857 $2,095 7.39%
    GREEN BAY, WI (FHA|USDA|VA) 8 $7,860,000 $982,500 $1,866 7.41%
    LA CROSSE-ONALASKA, WI-MN (FHA|USDA|VA) 38 $5,440,000 $143,158 $1,599 7.40%
    Beaver Dam, WI (FHA|USDA|VA) 6 $5,000,000 $833,333 $1,174 7.43%
    Manitowoc, WI (FHA|USDA|VA) 14 $1,320,000 $94,286 $1,186 8.18%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 2 $1,050,000 $525,000 $2,469 6.00%
    Stevens Point, WI (FHA|USDA|VA) 3 $865,000 $288,333 $3,480 7.46%
    Marinette, WI-MI (FHA|USDA|VA) 6 $550,000 $91,667 $2,229 7.18%
    AKRON, OH (FHA|USDA|VA) 1 $305,000 $305,000 $0 7.50%
    Baraboo, WI (FHA|USDA|VA) 1 $275,000 $275,000 $3,323 6.13%
    MADISON, WI (FHA|USDA|VA) 1 $245,000 $245,000 $2,789 6.88%
    Wisconsin Rapids-Marshfield, WI (FHA|USDA|VA) 1 $125,000 $125,000 $2,505 6.50%
    WAUSAU-WESTON, WI (FHA|USDA|VA) 1 $115,000 $115,000 $3,297 7.00%
    RACINE, WI (FHA|USDA|VA) 1 $105,000 $105,000 $0 7.50%
    SHEBOYGAN, WI (FHA|USDA|VA) 1 $45,000 $45,000 $0 8.50%
    EAU CLAIRE, WI (FHA|USDA|VA) 1 $45,000 $45,000 $1,338 6.50%
    Verve A Credit Union's top markets include Oshkosh, Fond Du Lac, Appleton, Milwaukee, and Chicago among others.

    Their top states include:
  • Wisconsin (FHA|USDA|VA)
  • Illinois (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Ohio (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against VERVE A CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N.E.W. Credit Union
    Similarity Rank: 15
    UNITEDONE Credit Union
    Similarity Rank: 28
    CO-OP Credit Union
    Similarity Rank: 33
    First Savings Bank of Hegewisch
    Similarity Rank: 36
    Glacier Hills Credit Union
    Similarity Rank: 49
    PCM
    Similarity Rank: 55
    Liberty Bank for Savings
    Similarity Rank: 79
    NORTHWESTERN MUTUAL
    Similarity Rank: 91
    Firefighters Credit Union
    Similarity Rank: 95
    PROSPERA Credit Union
    Similarity Rank: 168

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 379 $112,125,000 $295,844 $1,781 7.09%
    HELOC 300 $27,460,000 $91,533 n/a 7.97%

    For 2024, Verve A Credit Union's most frequently originated type of loan was Conventional, with 379 originations. Their 2nd most popular type was HELOC, with 300 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 260 $17,990,000 $69,192 $853 7.81%
    Home Purchase 159 $53,945,000 $339,277 $2,966 6.74%
    Other 159 $14,635,000 $92,044 $883 7.88%
    Cash Out Refi 59 $8,785,000 $148,898 $1,643 7.41%
    Refi 42 $44,230,000 $1,053,095 $1,690 6.81%

    For 2024, Verve A Credit Union's most frequently cited loan purpose was Home Improvement, with 260 originations. The 2nd most popular reason was Home Purchase, with 159 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    20 Year 312 $29,810,000 $95,545 $2,420 7.91%
    30 Year 130 $32,640,000 $251,077 $2,874 6.60%
    15 Year 90 $7,870,000 $87,444 $1,043 7.86%
    10 Year 61 $3,355,000 $55,000 $821 7.22%
    5 Year 55 $58,075,000 $1,055,909 $753 6.93%
    Other 23 $7,175,000 $311,957 $923 7.21%
    1 Year 5 $565,000 $113,000 $0 7.75%
    3 Year 3 $95,000 $31,667 $741 6.65%

    For 2024, Verve A Credit Union's most frequently cited loan duration was 20 Year, with 312 originations. The 2nd most popular length was 30 Year, with 130 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 316 $46,380,000 $146,772
    $1k-2k 3 $795,000 $265,000

    Verve A Credit Union's average total fees were $2,874, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 316 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 253 $88,105,000 $348,241
    7-8% 233 $28,975,000 $124,356
    Over 8% 167 $16,285,000 $97,515
    5-6% 26 $6,220,000 $239,231

    During 2024, Verve A Credit Union's average interest rate for loans was 6.60%, while their most frequently originated rate bucket for loans was 6-7%, with 253 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 374 $19,710,000 $52,701 $912 7.83%
    $100k-200k 155 $21,445,000 $138,355 $2,184 7.29%
    $200k-400k 98 $27,360,000 $279,184 $2,871 6.80%
    $400k-600k 22 $10,660,000 $484,545 $3,584 6.83%
    $1MM+ 18 $51,660,000 $2,870,000 $0 6.81%
    $600k-1MM 12 $8,750,000 $729,167 $4,685 6.58%

    2024 saw Verve A Credit Union place emphasis on $100,000 or less loans with 374 originations, totaling $19,710,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 181 $19,785,000 $109,309 $1,660 7.56%
    $50k-75k 128 $11,250,000 $87,891 $1,554 7.46%
    $150k-250k 117 $18,525,000 $158,333 $2,155 7.49%
    $75k-100k 112 $11,720,000 $104,643 $1,687 7.55%
    $50k or less 61 $5,595,000 $91,721 $1,665 7.54%
    $250k+ 21 $7,865,000 $374,524 $3,227 7.60%

    Verve A Credit Union lent most frequently to those with incomes in the $100k-150k range, with 181 originations. The second most popular income band? $50k-75k, with 128 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 163 $17,665,000 $108,374 $1,847 7.41%
    30-36% 132 $13,550,000 $102,652 $1,538 7.56%
    42% 43 $4,945,000 $115,000 $1,494 7.66%
    <20% 42 $3,870,000 $92,143 $1,551 7.21%
    40% 34 $4,150,000 $122,059 $1,667 7.74%
    39% 32 $4,460,000 $139,375 $2,227 7.80%
    38% 30 $4,190,000 $139,667 $1,768 7.46%
    36% 27 $3,335,000 $123,519 $2,145 7.59%
    41% 25 $4,015,000 $160,600 $2,148 7.49%
    37% 20 $1,520,000 $76,000 $1,400 7.78%
    44% 19 $2,505,000 $131,842 $1,825 8.24%
    43% 18 $3,620,000 $201,111 $2,179 7.44%
    45% 10 $1,600,000 $160,000 $1,713 7.28%
    46% 7 $865,000 $123,571 $1,495 7.18%
    48% 7 $1,285,000 $183,571 $2,364 7.07%
    47% 5 $715,000 $143,000 $2,745 7.63%
    49% 2 $540,000 $270,000 $2,521 7.13%

    Verve A Credit Union lent most frequently to those with DTI ratios of 20-30%, with 163 originations. The next most common DTI ratio? 30-36%, with 132 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 58 $64,720,000 $1,115,862 $0 7.02%
    White 533 $61,795,000 $115,938 $1,744 7.55%
    Not provided 74 $11,240,000 $151,892 $2,002 7.31%
    Asian 9 $1,475,000 $163,889 $2,010 7.50%
    Black 2 $210,000 $105,000 $2,816 6.63%
    American Indian 3 $145,000 $48,333 $762 7.95%

    Approval Rates

    Total approvals of all applications
    89.35%

    Verve A Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.51%

    Verve A Credit Union has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 679 $139,585,000 $205,574

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    679 $139,585,000 $205,574

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 243 $22,895,000 $94,218 $1,143 7.78%
    40-60% 80 $21,140,000 $264,250 $2,033 7.22%
    60-80% 91 $45,775,000 $503,022 $2,811 6.76%
    80-100% 69 $35,495,000 $514,420 $3,015 6.73%
    Under 20% 189 $10,705,000 $56,640 $790 7.83%